“QVC for millennials” NTWRK secures second round of funding and backing from Drake and Live Nation
NTWRK, the video streaming app dubbed as the QVC for millenials, has secured investment from major backers Drake and Live Nation.
The ecommerce app hosts one live shopping event per day enlisting the help of major celebrities to promote a singular item, which can be purchased through the app.
Past examples include Lebron James selling trainers, A$AP Ferg selling bikes, and Drake selling his own tour merchandise.
Tonight at 7PM PT, one lucky winner will take home the @supremenewyork x @fender Stratocaster for only $100. Released in 2017, this comes in a white-on-white colorway with a Supreme branded guitar strap and case. Estimated Value $4,800. For more info visit https://t.co/Cr29i1Pz1K pic.twitter.com/XbegBbazdT
— NTWRK (@NTWRKLIVE) June 24, 2019
Despite being less than a year old, NTWRK has now secured its second round of funding, and has partnered with Drake and events giant Live Nation as it plans to move into live events.
Its partnership with Live Nation will see it focus on creating and selling exclusive artist-driven collections, driving ticket sales for select concerts.
Furthermore, it will help the brand launch its NTWRK Presents arm, a concert division which its chief executive Aaron Levant expects to launch before the end of the year.
“We’re focusing on events that are a minimum of a week, sometimes as long as 90 days,” Levant said.
“So these have more room to breathe and give us more engagement and more of a timeline and we think that’s more meaningful.
“The number one thing for me is that people have to believe and see the vision of what you’re doing. For them to get on board and not just wish us well, but to actually put their money where their mouth is, and get behind this company to help us scale this with their capital, access and influence, is amazing for us.”
The two major names join a roster of impressive investors, including Warner Bros, Arnold Schwarzenegger and Jimmy Iovine.